To the extent he is known to those outside his discipline, the economist John Maynard Keynes is probably known as just that, an economist. That his ideas have come and gone and come around again, if not entirely unknown among practitioners of finance, is at least regarded as tangential to the day-to-day responsibilities of investors.…
Perhaps the most widely practiced approach to investing today is by doing so through a mutual fund of one form or another. This is perfectly sensible; someone without a lot of money to invest would be greatly handicapped if the diversification benefits of mutual funds were unavailable to them. Exactly how much money is invested…
In numerous respects, Benjamin Graham transformed the investment profession. For decades a superstitious trade practiced by mystics believing the strangest of strategies would bestow them with riches, managing money has become a mathematical profession perhaps excessively at odds with human irrationality. It was Graham, more than anyone else, who made investing and security analysis systematic.…
